OSI Systems (OSIS) Stock Gets Back on Track
Tweet
Share
E-mailGet Alerts OSIS Hot Sheet
Join SI Premium – FREE
Shares OSI Systems, Inc. (NASDAQ: OSIS) climbed on Friday, gaining over 10%. The spike came in response to news the company's Security division, Rapiscan Systems, and the Department of Homeland Security (DHS) entered into an Administrative Agreement that settles issues relating to the Rapiscan Secure 1000SP Advanced Imaging Technology system and associated Automated Target Recognition software. In summary, Rapiscan can continue its current and future business with U.S. federal government agencies.
In May, Rapiscan Systems was notified that DHS issued a Notice of Proposed Debarment in connection with a Show Cause letter from the Transportation Security Administration received by Rapiscan in November 2012. Since then shares have underperformed, despite comments from a number of analysts who said probability of debarment was low.
Following today's announcement, shares recovered, retaking the 60-handle, and there is more potential upside now that the overhang is removed. Among the 6 analysts who track the stock, 5 rate the stock Buy and there is 1 Neutral rating. The average price target on OSI Systems is $70 per share.
In May, Rapiscan Systems was notified that DHS issued a Notice of Proposed Debarment in connection with a Show Cause letter from the Transportation Security Administration received by Rapiscan in November 2012. Since then shares have underperformed, despite comments from a number of analysts who said probability of debarment was low.
Following today's announcement, shares recovered, retaking the 60-handle, and there is more potential upside now that the overhang is removed. Among the 6 analysts who track the stock, 5 rate the stock Buy and there is 1 Neutral rating. The average price target on OSI Systems is $70 per share.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- S&P affirms U.S. AA+ sovereign rating with stable outlook, flags fiscal pressures
- Central banks increasingly see stagflation as likely 5-year scenario, survey shows
- OpenAI may delay blockbuster IPO to 2027
Create E-mail Alert Related Categories
General News, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
